Plenti Group's portfolio surged to $2.14 billion in the fiscal fourth quarter ended March, a 21% increase from the previous corresponding period and a 3% uptick from the last quarter.
The non-bank lender recorded a rise in customers with payments overdue by more than 90 days, increasing from 0.46% to 0.58% from December 2023 to March.
During the quarter, Plenti booked $286 million in loan originations, inked a partnership with National Australia Bank (ASX:NAB), and enhanced operational efficiency by removing offshore staff.
The company foresees over 35% growth in cash net profit after tax for FY24 and optimistic prospects for FY25.